National Retail Hobby Stores Association Collects Industry Data Using Cutting Edge Tool

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Association to deliver peer-to-peer data point comparison using Dynamic Benchmarking

New, online platform allows for evaluation of opportunities and formulation of budgets, business plans, and marketing strategies.

National Retail Hobby Stores Association

The business intelligence gathered from this benchmarking study will provide valuable guidance to our members as they evaluate opportunities in their industry and formulate budgets, business plans, and marketing strategies.

Dynamic Benchmarking, a provider of customized online benchmarking and reporting solutions, is pleased to announce the launch of a new benchmarking solution for the National Retail Hobby Stores Association (NRHSA). Designed to collect and compare key operational data points of its members, the new, online platform allows for dynamic collection and reporting of information vital to the future success of these businesses.

The NRHSA is an organization of retail hobby stores with approximately 200 members in the USA and Canada. Acting as a link between manufacturers, distributors and retailers, the NRHSA supports the success of these businesses by providing educational, networking and marketing opportunities.

“It’s no secret that the retail industry is one of the most competitive in which to operate,” comments Janet Svazas, Executive Director of NRHSA. “The business intelligence gathered from this benchmarking study will provide valuable guidance to our members as they evaluate opportunities in their industry and formulate budgets, business plans, and marketing strategies.”

The initial survey was launched in October 2014 to gather information on key performance indicator of participating members. This study was the first of its kind and the Dynamic Benchmarking team worked closely with NRHSA to develop questions and build a survey that would prove to be a very useful tool for retail hobby store owners and operators.

“To be able to compare oneself with a similar store is vital,” continues Svazas. “What works for a small store in the Midwest may not work for one in downtown Los Angeles. What works for a shop specializing in radio controlled may not be suitable for one whose focus is model trains.”

Many members participated in the study, all of whom now have access to customizable reports that will deliver peer-to-peer comparison on sales data, inventory, staffing, and more.

About the National Retail Hobby Stores Association

The National Retail Hobby Stores Association (NRHSA) serves the needs of approximately 200 members in the USA and Canada. Acting as a link between manufacturers, distributors and retailers, the NRHSA supports the success of these businesses by providing educational, networking and marketing opportunities. For more information, please visit http://www.nrhsa.org.

About Dynamic Benchmarking

Dynamic Benchmarking is a New Hampshire-based startup that delivers real-time benchmarking and data analysis solutions with the features and capabilities of custom software in a format that is easy to use and quick to deploy. Founded by a team of women entrepreneurs, Dynamic Benchmarking combines powerful, web-based technology with unparalleled industry expertise and customer care to provide best-in-class, peer-to-peer data comparison for small business, associations, large enterprises and any organization looking to tap into the knowledge of the crowd. Dynamic Benchmarking builds web-based solutions that are flexible, scalable and allow for meaningful comparison of financial and operational performance in a dynamic and interactive manner. For more information, please visit http://www.dynamicbenchmarking.com.

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MaryAnn Pfeiffer

Lisa Vivinetto
@DynamicBench
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